Lighting Control System Market By Component (Solution, Services), By Technology (Wired, Wireless), By Application (Indoor, Outdoor): Global Opportunity Analysis and Industry Forecast, 2023-2032

Lighting Control System Market By Component (Solution, Services), By Technology (Wired, Wireless), By Application (Indoor, Outdoor): Global Opportunity Analysis and Industry Forecast, 2023-2032

The lighting control system market size was valued at $17,376 million in 2022, and is projected to reach $34,760 million in 2032, registering a CAGR of 7.2%. The lighting control system comprises the software, which connects to lamps and luminaires as part of a network to remotely command and control the lighting fixture. Lighting control systems provide many benefits such as individual control over lamps, controlling their colors, hues, dimness, as well as the design presented by luminaires. Further benefits of lighting control systems include energy efficiency, energy management, and reduction in carbon emissions.

The scope of the report discusses the potential opportunities for the key players to enter the lighting control system market. Furthermore, it provides an in-depth analysis of the market, outlining current trends, key driving factors, and key areas of investment. The report includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. Moreover, it features the strategies adopted by key market players to maintain their foothold in the market.

The lighting control system market is segmented on the basis of component, technology, application, and region. On the basis of component, it is classified into solution and services. On the basis of technology, it is classified into wired and wireless, with wireless further classified into Wi-Fi, Bluetooth, ZigBee, proprietary, hybrid and others. On the basis of application, it is classified into indoor and outdoor, with indoor further classified into residential, commercial, and industrial, and lastly, commercial, broken down into offices, restaurant and hotel, healthcare facility, educational institution, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The growth of the global lighting control system market is driven by the increasing capability and functionality of lighting control systems. Many functionalities have been added to the lighting control systems, making them a more attractive option for customers. Another driving factor is that many governments across the world have introduced policies to support energy-saving products. For instance, the European Union and the U.S. are offering grants, easier access to loans, tax rebates, and subsidies to lighting projects, which reduce CO2 emissions. However, system reliability is a concern when lighting control systems are installed in large environments. Given the fact that lighting control systems are relatively and most of them are proprietary systems, means that these proprietary systems are rarely tested outside of the manufacturer’s laboratories. On the other hand, the rapid development of smart city projects in Asia-Pacific present an opportunity for lighting control systems during the forecast period. Lighting control systems can be used to provide huge momentum in the process of building smart cities, specifically as they successfully address sustainable development challenges.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the lighting control system market analysis from 2022 to 2032 to identify the prevailing lighting control system market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the lighting control system market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global lighting control system market trends, key players, market segments, application areas, and market growth strategies.The key players operating in the lighting control system market are Acuity Brands, Inc. (Georgia), Cree LED (U.S.), Eaton Corporation (U.S.), General Electric (U.S.), OSRAM AG (Germany), Signify Holding (The Netherlands), Dialight (UK), Legrand S.A. (France), Lutron Electronics Co., Inc (U.S.), and Hubbell Incorporated (U.S.). These key players adopt several strategies such as new product launch and development, acquisition, partnership and collaboration and business expansion to increase their market share in the global digital multimeter market during the forecast period.

Key Market Segments

By Component

Solution
Services

By Technology

Wired
Wireless
Wireless
Wi-Fi
Bluetooth
ZigBee
Proprietary
Hybrid
Others

By Application

Indoor
Indoor
Residential
Commercial◦ Commercial
Industrial
Outdoor

By Region

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Lutron Electronics Co., Inc,
Signify Holding
Dialight plc.
Cree, Inc.
OSRAM GmbH
Eaton Corporation
General Electric
Legrand S.A.
ACUITY BRANDS, INC.
Hubbell Incorporated

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